Nifty Prediction : Gap down not surprising | Wait and watch, allow to settle

Daily Forecast – Share Market – May 11th, 2021

Gap down not surprising | Wait and watch, allow to settle

Moon with Venus is leading the day, well supported by Saturn, Sun, Rahu and Mars. Share market lord and Rahu are in planetary war, lord of share market is defeated during the day. This may give negative impact on the share market, trimming or profit booking on upper levels possible. Foreign cues may also be not supportive. Impact of lockdown etc. can also be seen. Negativity because of poor movements of Vaccine drive in many areas of nation.

Tomorrow will be weekly expiry.

Remember, now impact of COVID can be seen in small towns or rural areas of the nation. Which may give impact on certain industries related to rural or small areas. Rahu is also affecting on date to public better word is common man along with others also. Secondly, globally worry for inflation can be seen in coming period.

Today’s market may give pressure on banks, share market, and give impact on various markets.

This profit booking may give some opportunities to buy at lower levels, but it all depends on sustaining of bases. Rahu may give sharp dip in the market or gap down opening.

Areas of interest can be IT, logistics, Pharmaceuticals, leaf-based, coffee, FMCG, consumable segment, alcohol, sugar, safety products (related to health), laboratories, power, metals, and impact from FIIs, leather and defence related areas can be good for long term. Automobile related to rural areas can also be better at lower rates.

Pressure not surprising. Trade with care, wait and watch.

Indian Currency

Indian Rupee may trade in between 73.30 to 74.00 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.

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